Kyobo Securities Q1 Net Profit 48.2 Billion KRW... Largest Quarterly Record
[Asia Economy Reporter Yoo Hyun-seok] Kyobo Securities announced on the 17th that its consolidated net profit for the first quarter reached 48.2 billion KRW, achieving the highest quarterly performance ever. This is 64% more than the previous quarter. It turned to a profit from a net loss of 2.1 billion KRW in the same period last year.
Operating profit (60.3 billion KRW) also turned positive from a loss of 4.7 billion KRW in the same period last year. Revenue (operating income) was 725 billion KRW, down 8.4% from 791.2 billion KRW in the same period last year.
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The company explained that brokerage revenue increased by 555% and the corporate finance (IB) sector grew by 111% compared to the same period last year, showing high growth in asset management, IB, and Sales & Trading sectors. Additionally, it added that it plans to proceed with new businesses such as building digital platforms, MyData, and venture capital investment in the future.
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